European insurers hungry for M&A in 2021: Moody’s

European insurers hungry for M&A in 2021: Moody’s

European insurers hungry for M&A in 2021: Moody’s

Europe’s insurers and reinsurers have a “stronger appetite” for mergers and acquisitions (M&A) as they come out the other side of the pandemic, with a focus on cleaning up worse-performing units, said Moody’s following a survey of CFOs. The survey also found that two thirds of CFOs from non-life insurers expect P&C rates to increase again this year. Some 62%…

Liberty Special Markets promotes Quinn to underwriting manager of strategic assets

Liberty Special Markets promotes Quinn to underwriting manager of strategic assets

Liberty Special Markets promotes Quinn to underwriting manager of strategic assets

Liberty Specialty Markets (LSM) has promoted Jennifer Quinn to underwriting manager of strategic assets in London, where she will oversee cyber, intellectual property and property GAP coverages. Ms Quinn will report to Terry FitzGerald, head of finpro lines at LSM, and work with a team of underwriters based in London. She joined LSM in 2019 as a senior underwriter in…

Liberty Mutual names Sweeney president

Liberty Mutual names Sweeney president

Liberty Mutual names Sweeney president

Liberty Mutual has announced new executive leadership including the promotion of Tim Sweeney to the newly created position of company president. As first reported in Business Insurance, Mr Sweeney will oversee the company’s three business units – Global Risk Solutions, Global Retail Markets and Liberty Mutual Investments. He will report to Liberty Mutual chairman and CEO David Long. Jim MacPhee…

Airline insurance buyers risk being trapped by high pricing

Airline insurance buyers risk being trapped by high pricing

Airline insurance buyers risk being trapped by high pricing

Aviation insurance buyers risk being “anchored” at high rates as exposures rise with a recovery in demand for air travel, according to a leading aviation broker. Aviation insurers have been hiking up rates in recent years, but with many aircraft grounded the higher costs have not been fully realised, according to Joe Trotti, head of aviation and aerospace at broker…

CFC opens Lloyd’s emerging and digital risks syndicate

CFC opens Lloyd’s emerging and digital risks syndicate

CFC opens Lloyd’s emerging and digital risks syndicate

Specialty insurer CFC has opened its new Lloyd’s syndicate for trading that will break the mould and not have a traditional underwriting box. CFC said the “futuristic” Syndicate 1988, which was established in less than six months with the process conducted virtually, will use technology to lower the costs and resources of operating a traditional syndicate. Matt Taylor has been…

Expect ‘one, two punch’ from 2021 storm season, says FM Global as Claudette makes landfall

Expect ‘one, two punch’ from 2021 storm season, says FM Global as Claudette makes landfall

Expect ‘one, two punch’ from 2021 storm season, says FM Global as Claudette makes landfall

Atlantic hurricane seasons are expected to see less frequent but more severe storms, FM Global said as the first tropical storm of 2021 made landfall in Louisiana at the weekend. FM Global’s Dr Louis Gritzo said the changing nature of hurricanes means businesses must be prepared for a “one, two punch of wind and a lot of rain”, with hurricanes…

Ariel Re issues catastrophe bond

Ariel Re issues catastrophe bond

Ariel Re issues catastrophe bond

Ariel Re has issued its first 144A catastrophe bond, an index-triggered bond issued by Bermuda special purpose insurer Titania Re. Titania Re will provide $150m of multi-year collateralised reinsurance cover for North American named storms and earthquakes, using an indexed industry loss trigger. As first reported in Business Insurance, the notes are due on 21 June 2024, according to a…

Baden-Baden reinsurance meeting to take place in person

Baden-Baden reinsurance meeting to take place in person

Baden-Baden reinsurance meeting to take place in person

This year’s Baden-Baden reinsurance meeting is to take place in person, on 17-21 October 2021. The organisers said that after one year of interruption due to the Covid-19-pandemic, it was welcoming delegates back to the reinsurance industry meeting. “This decision has been made by the advisory council for the organisation of the Baden-Baden reinsurance meeting and is supported by other…

DLA Piper hires insurance and class action partner in Australia/UK

DLA Piper hires insurance and class action partner in Australia/UK

DLA Piper hires insurance and class action partner in Australia/UK

DLA Piper has hired insurance and class action specialist Tricia Hobson from Norton Rose Fulbright. She will join DLA Piper’s Sydney and London offices. She was a partner at Norton Rose Fulbright for more than 13 years. During 2018, she was the firm’s first female chair of the global board, in addition to being the Asia-Pacific head of insurance and…